Published on November 3, 2023, 3:54 pm
Image source: Fox News
Apple’s iPhone 15 Pro and Pro Max are off to a strong start, with the tech giant leading the market in global smartphone revenues for the third quarter. Despite being available for only a short period during that time, Apple secured a record high share of 43% in global smartphone revenues. This comes as it faces increased competition from Huawei and Honor, while Xiaomi and OPPO focus on boosting profit margins.
On the other hand, Samsung experienced an 8% decline in shipments and a 4% decrease in annual revenue. However, its overall average sales price (ASP) saw a 4% increase thanks to the success of its Fold 5 handset and continued momentum of the S23.
Counterpoint Research also noted that Xiaomi was the only top-five smartphone brand to see both quarter-to-quarter and year-to-year shipment increases during Q3. This growth is attributed to a surge in promotion-priced mid-range offerings in Chinese and Indian markets.
While Apple’s China revenues slightly declined by 2.5%, Counterpoint analysts consider it a positive sign given the challenges posed by Huawei’s 5G handsets and constrained iPhone 15 inventory during the quarter. They believe that the true impact of the iPhone 15 will be seen in the current quarter, as holiday purchasing season kicks off along with pent-up demand.
Apple TV+ has also been making waves in the entertainment industry, earning more than two dozen Emmy awards for its children and family programming. Shows like “Helpsters,” “Frog and Toad,” and “Pinecone and Pony” have been recognized for their excellence.
In addition to its strong business performance, Apple is expanding its retail presence in China with Apple MixC Wenzhou, marking its first venture into this bustling city.
As we head into this new quarter, all eyes will be on Apple as it aims to capitalize on its recent successes while facing stiff competition from other smartphone brands. With the holiday season fast approaching, the stage is set for a fierce battle in the global smartphone market.
Original article posted by Fox News